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i ~-_ SUMMARY OF SALE NOTICE (See Notice of Intent to Sell) $4,575,000 SOUTH BEND, INDIANA, REDEVELOPMENT AUTHORITY LEASE RENTAL REVENUE BONDS OF 1988 (PARKING FACILITY PROJECT) (Unlimited Tai Issuer and Lessor: SouthBend Redevelopment Authority. Lessee: South Bend Redevelopment Commission. Trustee: First Interstate Bank of Northern Indiana, N. A. Purpose: The Authority will sell lease rental revenue bonds to finance the construction of a parking facility, site acquisition, and related issuance costs, for lease to the South Bend Redevelopment Commission pursuant to the Lease Agreement. Security: Bonds will be secured by a Trust Agreement and issued pursuant to terms and provisions of the Trust Agreement and the Bond Resolution. Funds for the payment of the lease rental will be generated by the South Bend Redevelopment District from unlimited ad valorem property taxes. assessed throughout the District and other revenues as available.. Sale Date: Within 24 hours of notice of sale given by telephone prior to September I, 1988. Anticipated Sale Date: Tuesday, July. 26, 1988, Noon, Eastern Standard Time. Place of Sale: Office of the South Bend Redevelopment Authority 1200 County-City Building South Bend, Indiana 46601 Notice By Bidders of Intent to Bid: On or before 10:00 A.M. (EST), July 19, 1988. Interested bidders must furnish in writing to the Authority c/o Mr. Richard Treptow, Springsted Incorporated, 251 North Illinois Street, Suite 1510, Indianapolis, Indiana 46204-1942, bidder's name, address, telephone number and telex number (optional). Bidders will be notified at least 24 hours prior to the date and time of the sale. Type of Bid: A Non-Collusion Affidavit and a sealed bid for not less than $4,472,050 and accrued interest on the total principal amount of the Bonds shall be filed with the Secretary of the Authority prior to the time set for opening bids. (Bid Forms and aNon-Collusion Affidavit are included as part of the Official Statement.) Each bid must be accompanied by a certified or cashier's check in the amount of $45,750 made payable to "The South Bend Redevelopment Authority." No bid may be conditioned upon the award of any other obligations of the. Authority.